BaFin bans OneCoin in Germany

27th of April 2017 the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) issued cease and desist orders against Onecoin Ltd, Dubai, and OneLife Network Ltd, Belize, holding the companies to dismantle their internet based “OneCoins” trading system and to end all sales promotion activities in Germany immediately.

Here's the whole announcement from BaFin, which makes it very clear that running the ponzi in Germany is now officially illegal.

OneCoin had bought four "legal opinions" from Germany (September 2014, December 2014, June 2015 and June 2016) to give a false impression about legitimacy of the company's business. BaFin's ruling shows how little value these so called legal opinions have when a business based solely on a ponzi scam is weighted by authorities of a country.

Macau event prohibited by China?

German GerlachtReport reported yesterday that the upcoming event in Macau on May 7th has been banned by Chinese authorities. According to the article, OneCoin/OneLife isn't welcomed to China:

"OneCoin is on the black list internationally as a snowball system . In the meantime the opponents and state organs are also being formed in China. 

Since Macau is also dependent on Chinese law, chief administrator Fernando Chui has now been instructed to "prohibit the planning of a OneCoin / OneLife event in Macau". Corresponding instructions were also given to hotels and other possible venues according to information from: gerlachreport. The instruction is equivalent to a ban for the OneCoin / OneLife event."

The Bank of Thailand issued a warning about OneCoin

There has been a lot of bad news surrounding OneCoin this week and more of them just keep pouring in. According to Bangkok Post 28 April "the Bank of Thailand has warned people to avoid investing in illegal digital currency called OneCoin". - Yes, it says illegal.